In March 2025, Binance announced its sponsorship and strategic support for the Global Fintech Institute (GFI) to promote fintech education, professional technical development, and innovation. As part of this collaboration, Binance will provide more than 500 scholarships for GFI's newly launched course "Foundation in Crypto Regulation and Compliance."

What is the current status of the Fintech education track? What are the market pain points? What professional knowledge training and certification does GFI provide? How does GFI empower the global Fintech industry? With these questions, Starlabs Consulting interviewed Professor David Lee, the founding chairman of GFI, in this issue of "Disruptors Unplugged".

In addition, Professor Li Guoquan also put forward his own views on issues of concern to the market, such as the impact of Trump’s recent tariff policy on the crypto market, the adoption of cryptocurrencies in the context of trade disputes, and the safe-haven properties and high volatility of Bitcoin.

Guest Introduction

Li Guoquan, Founding Chairman of GFI, Professor of Fintech and Blockchain at Singapore University of Social Sciences (SUSS), Visiting Professor at National University of Singapore (NUS), Founding Board Member of UK Blockchain Association, Editor-in-Chief of Journal of Fintech and Annual Review of Fintech.

He is also an internationally renowned blockchain scholar and industry opinion leader, an expert in the development of Web3 and AI application scenarios, co-founder of the Blockchain Association of Singapore (BAS), co-founder of the Blockchain Security Alliance, co-founder of the Global Web3 Association, advisor to the Asian Development Bank on central bank digital currency (CBDC), vice chairman of the Singapore Economic Society (ESS), cryptocurrency expert advisor to the NUS Asian Institute of Digital Finance (AIDF), and expert advisor to the SUSS Inclusive Finance Node (NiFT).

In addition, Professor Li Guoquan also serves as an independent director of several listed companies in Singapore. He is an angel investor and limited partner of internationally renowned blockchain, Web3, inclusive finance and AI innovation projects, as well as a senior advisor and investment committee member of Artichoke Capital.

Highlights

  • Although cryptocurrencies and U.S. stocks "fall together but rise differently", whenever confidence in the traditional system collapses, Bitcoin is the first to attract attention from investors due to its "alternative nature" and leads the market.
  • When many people talk about "high volatility", they are actually comparing Bitcoin to the US dollar, but they ignore the fact that if the fiat currency itself is constantly depreciating, what is truly unstable is the fiat currency itself, not Bitcoin.
  • The current situation of Fintech education is that there is a serious imbalance between industry demand and education supply, and there is a lack of ethics and industry standards. This field is a blue ocean for startups.
  • GFI's CFtP and CFtA certification systems are widely recognized by regulators and industry associations. Qualified CFtP professionals can get listing opportunities on the talent section of the Flex.sg platform, which is partly funded by regulators. CFtP holders can also obtain the Universal Trusted Credential (UTC) for Fintech Professionals, which is recognized by international employers and central banks.

The following are highlights from the conversation on this episode of “Disruptors Unplugged.”

About Bitcoin and Crypto Market

🌃 Starlabs Consulting: Trump's tariff policy has caused global economic uncertainty and capital market turmoil. Cryptocurrency, as a non-sovereign value storage method, is theoretically not affected by the tariff policy. But why has the crypto market recently followed the US stock market and is also subject to the impact of Trump's economic policy?

Li Guoquan: Cryptocurrency, especially Bitcoin, has gradually become one of the indispensable risk assets in institutional investment portfolios. Therefore, in short-term market fluctuations, it often shows a positive correlation with US stocks (especially Nasdaq technology stocks) - once the market panics or liquidity tightens, institutions will simultaneously reduce their holdings of high-volatility assets, including stocks and crypto assets, in order to stop losses or meet redemption needs.

However, from the perspective of medium- and long-term dynamic correlation, it shows a negative correlation. The logic behind this is that when risk sentiment reaches its extreme and the market faces policy uncertainty or a systemic liquidity crisis, institutions tend to give priority to selling traditional assets with stronger liquidity, higher valuations, and deeper markets (such as U.S. stocks) rather than Bitcoin. At this time, Bitcoin, with its non-sovereign, decentralized, and censorship-resistant characteristics, has become the preferred rebound target for institutions or funds looking for a "safety margin." Although cryptocurrencies and U.S. stocks "fall together but rise differently," whenever confidence in the traditional system collapses, Bitcoin is the first to gain attention from funds due to its "alternative nature" and leads the rise.

🌃 Starlabs Consulting: In the context of tariff disputes and geopolitical economic decoupling, the US dollar settlement in foreign trade of some countries has been affected. Does this provide an opportunity for cryptocurrencies (especially stablecoins) to be widely adopted? Will this bring capital inflows to the crypto market?

Li Guoquan: Yes, you raised it very accurately. Stablecoins (such as USDT, USDC) can be said to be the tools with the lowest trust cost and the highest efficiency in the current global payment system. This is not an ideal state in theory, but a comparison result based on reality. We can compare CBDCs (central bank digital currencies) and alliance chain cross-border payments: whether in terms of cost, speed of arrival, or convenience of exchange, they are temporarily unable to compete with stablecoins. Especially in emerging markets, such as Argentina, Turkey, and even some African countries, stablecoins provide a near-real-time, low-premium dollar liquidity, which is a huge liberation for individuals and businesses.

We often talk about "inclusive finance", but in reality, many small, medium and micro enterprises and cross-border self-employed individuals are actually marginalized in the traditional system. The combination of stablecoins and DeFi (decentralized finance) brings about a real liberalization of global capital flows. You can not have a bank account, but as long as you have a wallet, you can receive and pay, and even participate in financing or earn income through agreements. It is not a replacement for banks, but a "parallel system" that does not rely on banks. For small and micro entities that have long been unable to access US dollar funds, this may be the first time in their lives that they have truly come into contact with the "capital market."

🌃 Starlabs Consulting: How do you view the contradiction between Bitcoin's "safe haven properties vs. high volatility"? In the long run, will Bitcoin's safe haven properties be enhanced?

Li Guoquan: This is a very typical misunderstanding. Many people refer to “high volatility” by comparing Bitcoin to the U.S. dollar, ignoring the fact that if the fiat currency itself is constantly depreciating, the real instability is actually the fiat currency itself, not Bitcoin.

For example, the M2 money supply in the United States has increased by nearly 100% in the past 10 years, which means that the purchasing power of each dollar is shrinking. However, the total amount of Bitcoin is hard-coded in the code and will never exceed 21 million. It is the world's first truly "scarce digital asset." Therefore, in the long run, the purchasing power of Bitcoin is superior to any legal currency, and we can even say that it is a substitute for gold in the digital age.

Volatility does not equal risk. The price fluctuation of Bitcoin is more because it is still in its early stages and the structure of participants is unstable. But the long-term trend is very clear. It is an anti-inflation asset, an asset outside the system, and a global liquidity haven.

About Fintech Education

🌃 Starlabs Consulting: What is the current status of global Fintech education? Will this field be a blue ocean for startups?

Li Guoquan: The current situation of Fintech education is, first, there is a serious imbalance between industry demand and education supply, and second, there is a lack of ethics and industry standards.

In recent years, with the development of emerging technologies such as blockchain, AI, DeFi, CBDCs, Web3 and Metaverse, the market demand for interdisciplinary talents with dual backgrounds in technology and finance has surged. However, the current supply of Fintech education is seriously insufficient.

Specifically, the Fintech industry has a growing demand for professionals in emerging fields such as blockchain developers, AI model designers, DeFi risk control experts, and quantum security analysts. However, most universities and educational institutions around the world still offer courses in traditional financial services and IT skills. Taking finance as an example, the course content of traditional financial disciplines often has a long update cycle, making it difficult to keep up with the latest technological trends in DeFi, NFT, DAO governance, smart contracts, data privacy protection, and other fields.

Obviously, this field is a blue ocean for startups. Currently, some micro-certifications and online learning platforms have emerged, such as Coursera, Udemy, edX, etc., which provide a large number of short courses related to fintech, blockchain, AI and data analysis. However, most of these courses focus on the technical level, while ethics, professional practices and industry standards are often ignored.

For example, many developers focus on technological innovation and market efficiency, but ignore key ethical issues such as user privacy, system fairness and compliance; because technological innovation usually precedes regulatory policies, and many technicians have not received financial compliance and ethics training, the products they develop may cause a series of non-human-centric risks such as data abuse, system vulnerabilities, and market manipulation. The so-called non-human-centric risks include:

  • Financial speculation and bubbles: can easily lead to systemic risks and cause investors to suffer significant losses.
  • Scam and money laundering risks: Unregulated DeFi protocols and anonymous transaction mechanisms have become a hotbed for money laundering, fraud, and illegal transactions.
  • Algorithmic bias and discrimination: AI and machine learning models may have data bias in financial applications, leading to unfair treatment of specific groups and exacerbating social injustice.
  • Opacity and unauditability: Due to the complex governance mechanisms of DAO and DeFi protocols, there may be a lack of transparency and unauditability, leading to systemic risks.
  • Skynet Possibility: In the future, the deep integration of AI and financial technology may lead to the risk of autonomous learning of algorithms and loss of control of automatic trading systems, and even threaten the stability of the financial system.

To this end, we believe that the global Fintech industry is facing a dual paradigm shift: on the one hand, the continuous improvement of the regulatory framework has led to an exponential growth in compliance operating costs; on the other hand, with the implementation of ethical regulatory systems such as the EU AI Act, the market demand for industry standards based on ethical algorithm governance and human-centrism design thinking has entered an accelerated track.

In this context, we believe that the future Fintech education system must take ethics, compliance and governance as core modules, and guide students to follow the principle of "technology is people-oriented" when developing and applying products. Relevant courses should include key content such as AI algorithm ethics, blockchain governance, data privacy protection, anti-money laundering mechanisms, transparency and auditability of decentralized systems.

As a global leader in Fintech education, GFI is promoting the internationalization of ethical and professional standards through the CFtP professional qualification certification system and the Flex.sg platform. CFtP certificate holders will be listed on the Flex.sg platform and can obtain the universal trusted credential for Fintech professionals issued based on the Universal Trust Credential (UTC) framework of the United Nations Development Programme (UNDP).

In addition, GFI can cooperate with international organizations such as the IMF, the World Bank, the Financial Stability Board (FSB), and the Bank for International Settlements (BIS) to jointly promote the establishment of a Fintech ethical governance framework and provide regulators in various countries with a set of globally recognized ethical standards and professional practice guidelines.

In this regard, GFI, relying on its interdisciplinary think tank resources, is working hard to build an empowerment system with three core modules:

  • Algorithm ethics assessment matrix (including bias detection, explainability verification and other technical specifications)
  • Regulatory Technology Capability Maturity Model
  • Responsible Financial Innovation Certification System (covering ESG dimensions such as digital inclusion and climate finance)

About GFI

🌃 Starlabs Consulting: Please introduce the GFI and CFtP certification systems.

Li Guoquan: GFI is a non-profit, university-neutral fintech education institution headquartered in Singapore, aiming to meet the growing global demand for professional fintech education and certification. Its mission focuses on building an international ecosystem of "academic-industry-regulatory" to provide a seamless growth path for cross-industry transformers and ensure the diverse vitality of the Fintech industry.

GFI has built a global platform connecting industry experts, academia and regulators, providing professional and systematic courses, and is committed to improving industry standards and enhancing the professional capabilities of fintech practitioners through its CFtP (Chartered Fintech Professional) and CFtA (Chartered Fintech Associate) systems.

GFI was originally established with the support of the Singapore University of Social Sciences (SUSS) and the Shanghai Institute of International Financial Center (SIIFC) of Shanghai University of Finance and Economics. It currently cooperates with the National University of Singapore, Singapore Management University, Nanyang Technological University, Murdoch University, Bogatsi University and other European and American universities. Among them, GFI's cooperation with well-known academic institutions such as SUSS and SIIFC ensures that GFI's courses maintain high academic standards while focusing on the combination with practical applications. GFI also has two well-known journals, "Fintech Journal" and "Fintech Annual Review", both of which employ Nobel Prize winners as consultants.

CFtP is GFI's flagship program, a two-level self-study curriculum that combines theoretical knowledge with real-world application:

  • Level 1: It includes two main modules: 1) Finance module - Economics, Financial Statement Analysis, Financial Management and Investment Management; 2) FinTech module - Data Structure, Algorithm and Python Programming, Big Data and Data Science, AI and Machine Learning, and Computer Network and Security.
  • Level 2: focuses on application and professional practice, including: compliance and technology risk management, cloud computing, cybersecurity and quantum computing, blockchain programming and digital currency, global fintech trends, business ethics and governance, AI, machine learning and deep learning in finance.

By completing both levels of the exam and having at least 2 years of Fintech-related work experience, candidates will be awarded the CFtP Chartered Certification, which is considered the gold standard in the Fintech field.

For students who have no basic knowledge but want to enter the Fintech industry, GFI has newly launched the CFtA program to provide candidates with systematic training on the basic knowledge of Fintech and to fully prepare them for entering the CFtP certification system. CFtA applicants must be at least 18 years old and have basic English proficiency. Students who have completed the CFtA certification can be exempted from the bachelor's degree requirement of CFtP.

🌃 Starlabs Consulting: Please introduce the faculty of GFI.

Li Guoquan: GFI's teaching team is composed of professors from top universities, researchers, Fintech experts, and practitioners with rich industry experience. These instructors have deep theoretical knowledge and rich practical experience in their respective fields, ensuring that the course content has both academic height and practical depth.

At the same time, GFI has established extensive partnerships with central banks, financial institutions, government agencies, law firms, audit firms and fintech service providers to continuously optimize course content to meet the latest needs of industry development.

We have a GFI Industry Fellowship Program that connects experienced FinTech professionals with emerging talent to build a strong mentor network and develop the next generation of FinTech leaders. CFtP holders have the opportunity to become Chartered Industry Fellows to share their expertise and industry insights.

Currently, the total number of GFI members has reached 500 and is still increasing.

🌃 Starlabs Consulting: Who are your partners?

Li Guoquan: GFI has established a strong partner network around the world, covering multiple key regions, including Turkey in the Middle East, Cambodia in ASEAN, Australia, 26 African countries, and domestic cities including Xiamen, Chongqing, Tianjin, Shanghai, etc. This enables GFI's certification content to adapt to the regulatory environment and technological development trends in different regions, and always remain cutting-edge and practical.

GFI has also established close collaborations with multilateral institutions, policy think tanks and industry associations, including the Brunei Institute of Leadership & Islamic Finance and The Financial Academy, Saudi Arabia, providing GFI with the latest insights into global policy and industry developments.

GFI has established several special working committees focusing on key areas such as cybersecurity, compliance, wealth management and fintech, smart contracts and DAO, and digital banking. The committees are composed of experienced industry experts and are committed to setting emerging industry standards and developing cutting-edge courses.

In addition, GFI has received support from no less than 20 companies, including Binance, Asia Pacific Exchange, etc. They not only sponsor related activities, but also provide internship opportunities for newly certified CFtPs to help cultivate industry talents.

🌃 Starlabs Consulting: Which groups of people does GFI mainly provide training for?

Li Guoquan: The core groups we target include:

1) Professionals in the traditional financial industry

GFI provides in-depth training on blockchain, AI, DeFi and digital payment technologies for practitioners in financial institutions such as banks, insurance, and asset management. For professionals engaged in compliance management, risk control, and anti-money laundering (AML), GFI courses cover how to integrate RegTech into daily business to meet the regulatory challenges brought by FinTech.

2) Experts in technology and data

For technical personnel who want to enter the fields of blockchain development, smart contract auditing, and AI-driven financial services development, GFI's courses cover practical skills in blockchain programming, machine learning, cybersecurity, and big data analysis.

3) Fintech entrepreneurs and corporate executives

GFI also provides a systematic knowledge system for founders and C-Level management (such as CEO, CTO, CFO) of fintech startups, including industry regulations, market entry strategies and innovative business models.

4) Regulators and policymakers

For professionals responsible for formulating policies, such as central banks, financial regulators, and government agencies, the GFI course provides in-depth cutting-edge knowledge in areas such as digital asset regulation, DeFi governance, and CBDC.

5) Academic researchers and university students

GFI also attracts scholars and graduate students in the fields of finance, economics, computer science and data science who want to delve into emerging technologies such as Web3, AI, blockchain and quantum finance. In addition, GFI provides undergraduate and graduate students with a professional certification path to enter the field of financial technology, laying a solid foundation through CFtA and then gaining a higher level of industry recognition through CFtP.

6) Professionals who wish to transition into the financial technology field

GFI also provides a systematic learning path for cross-industry transitioners, including professionals from the legal, audit, IT, consulting and other industries. These people hope to combine their existing skills with financial technology, and the CFtP certification provides them with a solid knowledge system for smooth entry into the financial technology industry.

🌃 Starlabs Consulting: What is your differentiated competitive advantage compared to other similar training and certification organizations?

Li Guoquan: GFI's unique advantages are reflected in the following aspects:

  • Industry authority certification: The CFtP and CFtA certification systems are widely recognized by regulators and industry associations. Qualified CFtP professionals can get exposure opportunities on the talent section of the Flex.sg platform, which is partially funded by regulators. CFtP certificate holders can also obtain the Universal Trusted Credentials (UTC) of Fintech Professionals, which is recognized by international employers and central banks. (*UTC is a project jointly initiated by the United Nations Development Programme and the Monetary Authority of Singapore, and a related white paper was released in 2024)
  • GFI’s courses focus on both theory and practice: They cover the latest technology trends and combine them with real industry cases to help students master practical skills in cutting-edge fields such as AI, DeFi, and blockchain.
  • Global learning platform: GFI supports distance learning and online examinations, enabling students around the world to acquire high-quality professional knowledge anytime and anywhere.